Top Overnight News
JD Vance will head the U.S. negotiating team for the peace talks with Iran on Saturday, White House press secretary Karoline Leavitt said on Wednesday. Axios
Even as the U.S. and Iran seek to cement a ceasefire, Israel is seizing more territory from its neighbors in preparation for a long, drawn-out conflict across the Middle East. Israel's creation of "buffer zones" in Gaza, Syria and now Lebanon reflects a strategic shift after the attacks of October 7, 2023, one that puts the country in a semi-permanent state of war. RTRS
Vance said Wednesday Israel has proposed to restrain itself when it comes to strikes in Lebanon as long as the negotiations between the U.S. and Iran are taking place. Axios
The White House is considering a plan to punish some members of the NATO alliance that President Trump thinks were unhelpful to the U.S. and Israel during the Iran war, according to administration officials. The proposal would involve moving U.S. troops out of North Atlantic Treaty Organization member countries deemed unhelpful to the Iran war effort and stationing them in countries that were more supportive. WSJ
EU will still be hit by a “stagflationary shock” of low growth and rising inflation despite the US and Iran agreeing a two-week ceasefire, the bloc’s top economic official has warned. FT
BOJ Governor Kazuo Ueda said that Japan’s finance conditions remain accommodative, with the level of real rates clearly below zero. BBG
The US is said to be considering lifting sanctions on Venezuela’s central bank to facilitate the flow of billions of dollars into the country’s economy. BBG
Wealthy investors attempted to pull more than $20bn from private credit funds in the first quarter, underscoring the growing strain on the asset class. Please use the sharing tools found via the share button at the top or side of articles. The funds tracked by the FT, which collectively manage investment portfolios worth about $300bn, have honored just over half of the redemption requests they received. Many investors have been forced to wait until a redemption window opens up later this quarter to exit. FT
The Trump administration will likely extend its waiver of sanctions on Russian oil this week, former Treasury and State Department officials said — teeing up a similar move on Iranian oil. Semafor
World Bank forecasts global growth for 2027 at 2.4%, while it said investment remains subdued as firms await clearer signals on the external environment and domestic policy, which it called a binding constraint on growth.
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